Daimler pumped billions into Chrysler before they gave up. Now it looks like Fiat will take a turn. Will they fare any better?
In an attempt to revive two of the world's storied auto makers, Italy's Fiat SpA and Chrysler LLC are poised to announce a partnership as soon as today in which Fiat could take control of the U.S. company's operations, people familiar with the matter said.
Under terms of a pact that is being hammered out, Fiat is likely to take a 35% stake in Chrysler by the middle of this year. It would have the option of increasing that to as much as 55%, these people said.
Sergio Marchionne pulled the Italian company back from the brink of collapse since taking over in 2004. Maybe he can work the same magic on Chrysler.
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